Sec. 16. (a) The board of directors of a public transportation corporation in a town consists of either five (5) or seven (7) directors, as determined by the town legislative body. All the directors shall be appointed by the legislative body.

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Terms Used In Indiana Code 36-9-4-16

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
     (b) If the board of directors consists of five (5) directors, they are:

(1) one (1) director appointed for a term of one (1) year;

(2) two (2) directors appointed for terms of two (2) years;

(3) one (1) director appointed for a term of three (3) years; and

(4) one (1) director appointed for a term of four (4) years.

     (c) If the board of directors consists of seven (7) directors, they are:

(1) two (2) directors appointed for terms of one (1) year;

(2) two (2) directors appointed for terms of two (2) years;

(3) two (2) directors appointed for terms of three (3) years; and

(4) one (1) director appointed for a term of four (4) years.

[Pre-Local Government Recodification Citation: 19-5-2-11 part.]

As added by Acts 1981, P.L.309, SEC.77. Amended by Acts 1981, P.L.317, SEC.4.

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